MargaritaVille to exit Dominican Republic as Playa Group acquires Cap Cana hotel

Punta Cana.- The MargaritaVille brand is set to cease its operations in the Dominican Republic, with the Cap Cana hotel being acquired by the Playa Group. This development is already being discussed in top tourism and banking circles, indicating that the deal is nearly finalized.

As per sources from arecoa.com, Grupo Playa is poised to purchase a 65 percent stake in the property, which is currently owned by the Barderas family. Following this acquisition, Karisma, which has been managing the hotel for the past two years, will no longer be involved.

The new majority shareholders are reportedly in talks with Marriott to bring one of its brands to the Cap Cana hotel, replacing MargaritaVille. While this detail is yet to be officially confirmed, the source is considered highly reliable.

Financial specifics, such as the exit penalties for Karisma and MargaritaVille, are still being worked out. Speculation suggests a figure around 10 million dollars, but the exact compensation for MargaritaVille has not been disclosed. The exit of both companies from the Cap Cana hotel is expected to occur within the next few months.

The Playa Hotels Group is emerging as a formidable player in the market, with a strong commitment to expanding its presence in the Dominican Republic. The group seems to favor collaborations with North American brands, indicating potential future partnerships and operations in the country.

Dominican Republic shines in TripAdvisor’s Travelers’ Choice Awards

Santo Domingo.- The Dominican Republic has made a notable impression in this year’s TripAdvisor Travelers’ Choice Awards, securing prestigious spots in two categories. The country ranked 16th in the list of ‘Top Destinations’ (previously known as popular destinations) and achieved an impressive 4th place in the ‘Best Honeymoon Destinations’ category.

Travelers are drawn to the Dominican Republic for its unique blend of pristine white sand beaches and charming Victorian gingerbread architecture. With nine hundred miles of Caribbean coastline, it’s a haven for beach enthusiasts. TripAdvisor highlights must-visit spots like the Loma Isabel de Torres cable car in Puerto Plata and the vibrant nightlife of Cabarete. Punta Cana, with its idyllic palm trees and crystal-clear waters, is particularly noted for epitomizing a tropical paradise.

TripAdvisor’s report also sheds light on travel trends for the new year. Nearly half (45%) of travelers are planning three or more trips, with 46% including at least one international journey. A significant 93% of Americans intend to spend the same or more on travel this year, indicating sustained momentum in the travel sector.

The Travelers’ Choice Awards 2024 for ‘Best of the Best Destinations’ are determined by analyzing the quality and quantity of reviews across various categories, including accommodations, restaurants, and activities. These reviews are gathered from global travelers on TripAdvisor between October 1, 2022, and September 30, 2023, ensuring a comprehensive reflection of traveler experiences and preferences.

Ministry of Tourism issues resolution to regulate cruise terminal services

Santo Domingo.- The Ministry of Tourism of the Dominican Republic (Mitur) issued a new resolution on January 9, 2024 to regulate the provision of services at cruise terminals in the country.

The tourism authorities have implemented a comprehensive set of regulations to guarantee the highest standards of quality across all aspects of the cruise terminal experience. From meticulously maintained facilities and well-trained staff to robust security measures and clear signage, every detail is intensively considered to ensure a smooth and worry-free visit.

Key points of the document

• Requires all service providers at cruise ports to have a valid operating license and describes specific requirements for facilities, security, signage, and staff training.

• Requires operators to report passenger counts and any incidents to the Ministry of Tourism and requests collaboration with relevant government agencies.

• Establishes obligations for cruise port operators, including the implementation of security measures and service quality, as well as the notification of passenger counts and incidents to the Ministry of Tourism.

• Requires collaboration with relevant government agencies and public dissemination.

Other aspects

Operating licenses for service providers: All service providers at cruise ports must have a valid operating license issued by the Ministry of Tourism, according to the type of service provided. Individuals or entities that use third parties under a subcontracting arrangement must ensure that the subcontractor also has a valid license.

Compliance with specific regulations: Restaurants must comply with the provisions of Regulation No. 2116, on Classification and Standards for Restaurants, while gift shops must follow Regulation No. 2123 for gift shops. Travel agencies must comply with the provisions of Decree 815-03, which approves the regulation of classification and standards for travel agencies.

Security and quality measures at cruise ports: Cruise port operators must implement measures to ensure the highest standards of security and quality in the provision of services. These measures include the development of prevention and contingency management programs, the development of strategies to maintain security, the placement of maps and signs in Spanish and English, and the guarantee of adequate general lighting and permanent surveillance in the port facilities.

Obligation to inform the Ministry of Tourism: Operators of cruise ports are required to inform the Ministry of Tourism, within the first three (3) days of each month, the number of passengers who leave the terminals and enter the port facilities.

Mitur is unwavering in its dedication to providing an exceptional experience for every visitor who sets foot on its shores. This commitment extends to those arriving by cruise ship, ensuring their safety, satisfaction, and enjoyment throughout their time in the country.

Furthermore, Mitur is committed to fostering a welcoming and vibrant atmosphere at its cruise terminals. This includes showcasing the rich culture and natural beauty of the Dominican Republic through locally-owned shops and restaurants, as well as offering a variety of exciting excursions and activities for visitors to explore.

Punta Catalina leads energy generation in the Dominican Republic

Baní.- The Punta Catalina Electric Generation Company (EGEPC) has solidified its position as a leading entity in the Dominican Republic’s energy generation sector. Recent statistics from the Coordinating Body of the National Interconnected Electrical System (OC) highlight this dominance. From January to November, EGEPC contributed a total of 4,460.32 GWh of energy, accounting for approximately 22.29% of the country’s total production, which was 20,006.65 GWh during the same period.

This substantial contribution not only showcases Punta Catalina’s capacity but also emphasizes its pivotal role in the national energy landscape. By the end of December, it is estimated that EGEPC’s net generation reached around 4,902 GWh, a figure pending official confirmation by the OC.

Punta Catalina’s significant lead in generation volume is evident when compared to other companies, with the second-highest generator reaching only 2,617 GWh. The exceptional performance of Punta Catalina’s CTPC 1 and CTPC 2 units has been instrumental in securing this leadership position. These units have consistently been in the top priority positions for thermal power plant dispatch due to their significant energy contribution, efficiency, and operational capacity.

The company has maintained a pattern of excellence and reliability, adeptly adapting to seasonal changes and ensuring stability in the Dominican Republic’s electrical grid. Celso Marranzini, the executive vice president of EGEPC, highlighted the company’s pivotal role in the energy sector, attributing its success to innovative strategies and a focus on operational excellence. Marranzini’s remarks underscore Punta Catalina’s crucial impact on the growth and stability of the Dominican energy sector.

U.S. Officials visit CODEVI industrial park to discuss job creation and bilateral cooperation

Santo Domingo.- Tom Perez, former Secretary of Labor under Barack Obama’s administration, and Juan S. González, Special Assistant to Joe Biden and Senior Director of the National Security Council (NSC) for the Western Hemisphere, recently visited the CODEVI industrial park in Juana Méndez, Haiti, situated on the border with the Dominican Republic.

During their visit, the U.S. officials met with businessman Fernando Aníbal Capellán Peralta to explore job creation opportunities and discuss the future prosperity of both Haiti and the Dominican Republic. Capellán Peralta highlighted the significance of the meeting on his Twitter account, sharing photos and emphasizing the productive dialogue on job creation and a better future for people in both nations.

The tweet read: “Productive conversation about the opportunities and challenges for creating more jobs and a better future for people in both countries. #HopeHelp #Nearshore Cooperation @POTUS.”

This visit underscores the United States’ interest in enhancing bilateral collaboration in labor and economic matters. It demonstrates a commitment to fostering job growth and improving living conditions in both Haiti and the Dominican Republic. The engagement at CODEVI is a positive step towards strengthening ties and cooperation between these neighboring countries and the United States.

Air Europa considering daily business class flights to Punta Cana

Punta Cana.- Air Europa, a part of the Globalia Group, is reportedly planning to expand its service offerings by introducing business class flights on all its routes from Madrid to Punta Cana Airport. This potential upgrade in service comes in response to considerable demand from passengers for VIP flight options to the Dominican Republic’s leading airport.

Currently, the Spanish airline operates only one business class flight per week to Punta Cana, specifically on Mondays. In contrast, Air Europa offers daily flights with business class service to Las Américas Airport, indicating a precedent for such premium services in its operations.

While Air Europa has not officially confirmed the introduction of these daily business class flights to Punta Cana, the decision is expected to be announced soon, possibly around the time of Fitur, the international tourism trade fair. This move, if confirmed, would significantly enhance the airline’s service offering and meet the growing demand for more luxurious and comfortable travel options to Punta Cana.

IDB Invest grants $75 Million loan to Banco BHD to empower women entrepreneurs

Santo Domingo.- IDB Invest, a member of the IDB Group, has announced a significant initiative to bolster the economic empowerment of women in the Dominican Republic. A subordinated loan of $75 million, extendable up to seven years, will be provided to Banco BHD. This strategic funding aims to enhance credit access for micro, small, and medium-sized enterprises (MSMEs) led or owned by women, through loans in Dominican pesos.

With about 1.5 million MSMEs, constituting 98% of all Dominican businesses and employing 65% of the workforce, these enterprises are crucial to the country’s economy. However, a notable gender gap in financial inclusion persists, as evidenced by a 22% lower loan reception rate for women compared to men over the last year.

Banco BHD, recognized for addressing gender gaps in financing, collaborates with IDB Invest to promote the WeFinance Code, a private sector-led initiative in the Dominican Republic. This initiative aims to utilize sex-disaggregated data to enhance support within the financial ecosystem for women’s MSME segment.

The WeFinance Code, supported by the Women Entrepreneurs Financing Initiative (We-Fi), focuses on unlocking financing for female entrepreneurs. Banco BHD will receive IDB Invest’s technical advice on digitizing and utilizing data for tailoring financial offers to businesswomen. This includes conducting market studies for rural and urban entrepreneurs and applying tools to mitigate unconscious bias in credit processes.

This collaboration aims to automate and scale Banco BHD’s offerings for women-led MSMEs, catalyzing knowledge transfer among financial entities and stakeholders in the Dominican Republic. The project aligns with the United Nations Sustainable Development Goals (SDGs), particularly focusing on gender equality, economic growth, innovation, and reducing inequalities.

About IDB Invest:
IDB Invest, part of the IDB Group, is a multilateral development bank dedicated to promoting economic development in Latin America and the Caribbean through the private sector. It supports sustainable companies and projects for financial success and broad economic, social, and environmental development in the region. With a portfolio of $16.33 billion and serving 394 clients across 25 countries, IDB Invest offers innovative financial solutions and advisory services across various sectors.

Santiago Mayor declares 2024 as the “Year of Tourism Promotion”

Santiago.- Abel Martínez, the mayor of Santiago, has announced 2024 as the “Year of the Promotion of Tourism in Santiago.” This declaration, contained in the municipal provision 016-2023, was made on December 30th.

Martínez outlined that the Santiago council is engaged in various programs aimed at enhancing tourism and culture within the district. These efforts are part of a broader initiative to integrate the community into the national dynamics of the Dominican Republic. He underscored that Santiago de los Caballeros has recently been recognized as a model city in terms of order, organization, and development, attracting both domestic and international tourists.

Tourism in Santiago is reportedly experiencing rapid growth, attributed to the effective city model implemented during Martínez’s administration. The mayor highlighted the city’s advancements and attractions, including its cleanliness, the city mural route, mountain tourism, and notably, the burgeoning sector of health tourism.

Martínez also cited recent investments in the hotel industry, state-of-the-art medical facilities with international certification, and Santiago’s prominence in sports with iconic baseball, basketball, and soccer teams. The expansion of the International Airport, new commercial establishments, cultural, shopping, and gastronomic routes, all bolstered by agreements with prestigious national and international entities, were also mentioned as key factors in this declaration.

Furthermore, the provision issued by Mayor Martínez mandates the use of the slogan “2024 Year of the Tourism Promotion in Santiago” on all official council documents, reinforcing the city’s commitment to elevating its tourism profile in the coming year.

Standard & Poor’s reaffirms Dominican Republic’s ‘BB’ rating with stable outlook

Santo Domingo.- Standard & Poor’s (S&P Global) has reasserted the Dominican Republic’s credit rating as “BB with a stable outlook.” This decision reflects the country’s strengthened governmental institutions and the ability to sustain high economic growth rates, improved fiscal planning, and better public debt management.

In December 2022, the credit rating of the Dominican State was upgraded from “BB-” to “BB”, marking the highest credit rating achieved by the country. S&P Global emphasizes that macroeconomic stability will continue to underpin these positive outcomes.

The S&P report specifically notes the reduction in inflation, attributed to measures implemented by the Central Bank in 2023. It also projects a swift return of the country’s economic growth to its long-term levels. Furthermore, the robust performance of the tourism sector is credited for contributing to the expansion of the Gross Domestic Product (GDP) and reducing the current account deficit.

A potential further improvement in the rating hinges on the approval and implementation of reforms enhancing fiscal and debt planning, leading to lower fiscal deficits.

Minister of Finance Jochi Vicente highlighted the government’s submission of the Fiscal Responsibility Law draft to the National Congress in 2023. This law aims to ensure the sustainability of public finances. Vicente acknowledged the challenges faced both domestically and internationally, noting that the government’s improvements and reforms have positively impacted the country’s credit evaluation. This, he says, translates into more and better opportunities for the nation.

Vice Minister of Public Credit, María José Martínez, further explained that the improvements in credit rating achieved under the current administration provide the Dominican State with access to capital markets at lower interest rates. This enhances the country’s appeal for foreign investment.

Cibao International Airport celebrates arrival of two millionth passenger in 2023

Cibao International Airport marked a significant milestone on Wednesday, December 27, 2023, as it welcomed its two millionth passenger of the year. Rafael Tiburcio, a 76-year-old traveler, arrived on Delta Airlines flight 1845 from New York and was the lucky two millionth passenger. To commemorate this occasion, Tiburcio was awarded 200,000 pesos, 10,000 travel miles, and a recognition plaque.

Félix García Castellanos, president of the Board of Directors of Cibao International Airport, expressed his excitement over achieving this passenger count in 2023. He extended his gratitude to the passengers who choose Cibao International Airport and shared the airport’s goal to double this number following its ongoing expansion work.

The airport celebrated the arrival of the flight carrying the milestone passenger with a festive atmosphere. The event featured an artistic performance by the merengue singer of typical music, El Prodigio. Additionally, folk dances, piglets, Roba la Gallina, and other characters representing Dominican culture added to the jubilant celebration. Members of the Board of Directors of Cibao International Airport also participated in the event.

This achievement at Cibao International Airport contributes to the Dominican Republic’s record of welcoming over 10 million visitors in 2023, as reported by Diario Libre. This milestone underscores the country’s growing appeal as a tourist destination and the airport’s role in facilitating this growth.

Historic arrival: First cruise ship to dock at Cabo Rojo Port in Pedernales

Pedernales.- The Southern region of the Dominican Republic is poised to experience a historic moment with the scheduled arrival of the first cruise ship at the newly ready Cabo Rojo port in Pedernales. The port, boasting a stunning view, is set to welcome its first influx of tourists, significantly marking a new chapter in the region’s development.

Sigmund Freud, the director of Public-Private Partnerships, shared glimpses of the picturesque Cabo Rojo port on social media, stirring excitement about its potential to attract visitors. “We are ready! [It] will be a historic day for the Dominican Republic, with the arrival of the first cruise ship with nearly 3,000 visitors to Port Cabo Rojo in Pedernales,” Freud announced, expressing enthusiasm for the impending event.

This inaugural docking will occur today, with the Norwegian Pearl cruise ship, arriving from Miami with 2,873 passengers. The event is set to be graced by the presence of President Luis Abinader, Minister of Tourism David Collado, alongside other dignitaries and industry stakeholders. The arrival is anticipated not only as a milestone for Pedernales but as a significant step in opening up the Southern region to global tourism, creating a narrative of change, opportunities, and prosperity.

Marriott International eyes expansion in Dominican Republic’s booming tourism sector

Santo Domingo.- Marriott International, inspired by the promising prospects of Dominican tourism, is exploring new opportunities to expand its presence in the country, focusing on emerging market segments. Bojan Kumer, the regional vice president of Development for Marriott International in the Caribbean and Latin America, has expressed high confidence in the Dominican Republic’s tourism potential, spanning from Santo Domingo to Punta Cana.

Kumer highlighted the Dominican Republic as a destination with considerable growth possibilities, especially in luxury and all-inclusive segments. The interest sparked by the Cabo Rojo project in Pedernales has led Marriott to actively seek participation opportunities in this promising venture.

Excitement is mounting within Marriott International about its expansion in the region, including a range of upcoming projects. As of the third quarter of 2023, Marriott boasts 493 properties under 22 different brands across 37 countries and territories in the Caribbean and Latin America. In the Dominican Republic alone, Marriott operates 14 properties with over 3,700 keys.

The Dominican Republic hosts nine of Marriott’s global portfolio brands, which include over 30 brands globally. These are AC Hotels by Marriott, Autograph Collection, Courtyard by Marriott, Four Points by Sheraton, JW Marriott Hotels & Resorts, Renaissance Hotels & Resorts, Sheraton Hotels, The Luxury Collection, and Westin Hotels.

Kumer confirmed the Dominican Republic’s status as a key market for Marriott in the region, both in terms of existing properties and future projects. The country currently has 17 properties in medium to long-term development, adding more than 3,000 keys.

Financially, Marriott’s recent performance in the region is strong, reflecting healthy growth in Revenue Per Available Room (RevPAR), which increased by 2.8% over the third quarter of 2022, and occupancy rates growing nearly 3% over the same period, as reported by Listín Diario. This positive trend underscores Marriott’s commitment to expanding its footprint in the Dominican Republic’s thriving tourism sector.

Abinader to inaugurate important infrastructure projects across multiple provinces

Santo Domingo.- President Luis Abinader is set to embark on a busy two-day tour, inaugurating nine significant projects across Peravia, Barahona, and Pedernales provinces. A highlight of this tour includes the first phase of the Cabo Rojo port.

His itinerary begins in Peravia province with the inauguration of the Prof. Carlos McKinney Experimental High School of the Autonomous University of Santo Domingo (UASD). This event is scheduled for noon on Wednesday.

Following this, President Abinader will proceed to Azua province to oversee the handover of property titles, a move set to positively affect local families by ensuring their right to decent housing.

In Barahona, the President will inaugurate a 26.6-kilometer section of the Barahona/Enriquillo highway and several other developments. These include the San Rafael and Enriquillo viewpoints, the Maniel River bridge, and 1.3 kilometers of new asphalt.

The day concludes in Pedernales with the inauguration of the renovated Dr. Elio Fiallo Hospital and the opening of a new First Level Center.

On Thursday, the President’s agenda kicks off with the opening of the first stage of the Cabo Rojo port in Pedernales at 8:00 AM. This will be followed by a ceremony marking the arrival of the first cruise ship with visitors to the region.

These inaugurations reflect the government’s commitment to enhancing the country’s infrastructure, boosting tourism, and improving healthcare and educational facilities.

La Romana-Bayahíbe awaits over half a million cruise passengers in 2024

La Romana, DR.- The tourism landscape in La Romana-Bayahíbe is set for a significant boost in 2024, with the president of the Romana-Bayahíbe Hotel Association (AHRB), Andrés Fernández, announcing the expected arrival of over 500,000 cruise passengers.

This surge is attributed to the recent structural upgrades at the La Romana cruise terminal, positioning it among the largest in the Caribbean.

Fernández expressed high hopes for the 2024-2025 cruise season, emphasizing the terminal’s quality and the strategic geographic advantage of the Dominican Republic in the Caribbean. Additionally, he highlighted the crucial role of La Romana International Airport in this resurgence.

The airport not only caters to the influx of cruise tourists but also uniquely connects the Dominican Republic with Italy, besides recently expanding its routes to include Miami and Puerto Rico. This growth in cruise tourism is a testament to the region’s appeal as a key Caribbean destination and its capability to handle a growing tourist influx efficiently.

Government delivers two bridges in La Vega and Puerto Plata

Puerto Plata—The Government yesterday put into operation the bridges of Sabaneta, over the Camú River, in La Vega, and El Cangrejo, in Puerto Plata, built with an investment of RD$703 million and which are estimated to have an impact on the development of tourism and agricultural production in the northern region and will facilitate and speed up transportation.

The ministers headed the ceremony were Deligne Ascención of Public Works and José Ignacio Paliza, Administrative of the Presidency, and the provincial governors of La Vega, Luisa de la Mota and Hermanas Mirabal, Lisette Adames.

At the inauguration of the Sabaneta bridge, Ascención explained that this work was executed with an investment of RD$240 million and that the old metal bridge was replaced in 1934 by Rafael Leonidas Trujillo Molina.

The project has a metallic structure and reinforced concrete, with a length of 98 meters, two cantilevers of 10 meters of lateral supports in reinforced concrete, and approaches that connect with the existing road on both sides of the bridge.

It also has a central span in metal box girder type of 0.90 by 1.80 meters, with a reinforced concrete slab of 50 meters long and a roadway width of 10.70 meters, horizontal and vertical signaling.

“This work is fundamental for the inhabitants of the Hermanas Mirabal province and has an extraordinary impact on the municipality of Villa Tapia, which is considered one of the main banana producers in the region, with a total of 87,000 tareas planted, in addition to producing cassava, sweet potato, rice, corn, vegetables, among other agricultural products. Its inhabitants are also engaged in poultry, cows and pig production”, said Ascención.

The Government also left in operation the El Cangrejo bridge, which connects Puerto Plata, the Gregorio Luperón International Airport, and several tourist centers in the area, such as Sosúa, Cabarete, and Montellanos, which was built with an investment of RD$463 million 264 thousand.

The ceremony was led by the administrative minister of the presidency, José Ignacio Paliza, Senator Ginette Bournigal, and the governor, Claritza Rochet, among others.

He explained that the El Cangrejo bridge is a structure with a design adapted to the new construction technologies, which gives flexibility and strength to this type of building to support heavy loads and general road mobility.

Its length is 95 meters, including approaches, and the width is 19.8 meters for four lanes and 3.65 meters for the two pedestrian walkways and protective railings. It has a combination of post-tensioned concrete beams and steel beams resistant to corrosion by oxidation since it is close to the sea and has 20 support piles in each abutment.

The delivery of these bridges received the support of the community and civil society because they facilitated the transfer of products and the flow of people.

Investment funds boost employment and economic growth in the Dominican Republic

Santo Domingo.- The Dominican Association of Investment Fund Administrators (ADOSAFI) has highlighted the significant impact of investment funds on the country’s economy and job market. As of June this year, these funds have created 10,515 direct jobs and 19,569 indirect jobs, totaling over 30,000 employment opportunities. This substantial contribution to job creation demonstrates the crucial role of investment funds in fostering economic growth and stability.

ADOSAFI also reported that, by June of this year, investment funds have injected $1.7 billion USD into the productive sector. This investment accounts for approximately 1.6% of the Dominican Republic’s Gross Domestic Product (GDP), underscoring the substantial role of these funds in the national economy.

Santiago Sicard, the executive president of ADASAFI, emphasized the multifaceted benefits of investment funds. According to Sicard, these funds not only generate returns for investors but also create wealth for the broader community by generating jobs and providing families with stable sources of income. This approach aligns with building a stronger and more prosperous nation.

The $1,705 million investment has been channeled into 131 projects across 14 different types of productive activities. These projects span a wide range of sectors, including tourism, sustainable energy, industrial parks and free zones, construction and real estate, health, and other areas integral to the lives of Dominicans.

Investors, including pension funds, are increasingly interested in projects contributing to the country’s growth and the well-being of its population. ADOSAFI remains committed to monitoring and reporting the positive impacts of these investments, ensuring transparency and accountability.

The growth of investment funds and the stock market in the Dominican Republic is changing the landscape of investment, allowing pension savings to be directed towards profitable, future-oriented activities. These investments also yield immediate, tangible benefits, enabling broader participation in projects and activities that were once limited to a select few. This shift marks a significant advancement in the economic empowerment of the Dominican workforce and the nation’s overall development.

Port of Cabo Rojo in Pedernales poised to boost Dominican Republic’s cruise tourism

Pedernales.- The Dominican Republic is set to welcome the first cruise ship of 2024 to the newly completed first phase of the Port of Cabo Rojo in Pedernales. This development comes as the country celebrates a record-breaking year, with 10 million visitors, significantly boosted by cruise tourism. As of December 26, 2023, 2,198,578 passengers had arrived by sea, marking an impressive 110% increase compared to 2019’s figures.

The Dominican Port Authority (APORDOM) announced that the Port of Cabo Rojo’s first phase, featuring a 200-meter dock and a mooring knot, is ready. This facility can accommodate multiple vessels simultaneously. The inaugural reception of tourists at this port is scheduled for Thursday, January 4, at 10:30 AM, led by President Luis Abinader and APORDOM director Jean Luis Rodríguez, along with other officials and business leaders.

President Abinader and Director Rodríguez have played pivotal roles in elevating cruise tourism as a key component of the Dominican Republic’s tourism strategy. This includes significant investments in port infrastructure, such as the Port of Cabo Rojo, expected to stimulate economic growth in the Enriquillo region.

With 18 cruises scheduled before the end of 2023, cruise tourism is projected to represent 23% of total visitors for the year. APORDOM has made substantial investments in port facilities to cater to the increasing demand from cruise passengers. These efforts are part of President Abinader’s strategic vision and collaboration with the private sector.

Key Investments in Cruise Port Infrastructure:
– The La Romana Cruise Terminal expansion, with an investment exceeding 15 million dollars, allows the reception of Oasis-class vessels and has established La Romana as a crucial regional port.
– The inauguration and expansion of Taino Bay in Puerto Plata, with a 95 million dollar investment, has enhanced visitor experiences and contributed to Puerto Plata’s tourism growth.
– The construction of Samaná Bayport, a 22 million dollar project, aims to handle up to 10,000 cruise passengers daily upon completion.

The inauguration of Port Cabo Rojo’s first phase on January 4, 2024, is a milestone in the tourism development of southern Dominican Republic. With an investment of nearly 100 million US dollars, the port is expected to receive up to one million cruise passengers annually when fully operational.

Jean Luis Rodríguez, executive director of APORDOM, emphasized the critical role of public-private sector collaboration in this achievement. The combined efforts, including those of the Ministry of Tourism led by Minister David Collado and President Luis Abinader, have been instrumental in strengthening infrastructure and promoting the Dominican Republic as a premier tourist destination.

These achievements underline the Dominican government and APORDOM’s commitment to sustainable tourism development, reinforcing the country’s position as a leading Caribbean destination and aspiring to become the Cruise Hub of the Caribbean.

UNWTO Secretary General praises Dominican Republic’s tourism achievement

Santo Domingo .- Zurab Pololikashvili, the Secretary General of the World Tourism Organization (UNWTO), has extended his congratulations to President Luis Abinader and Tourism Minister David Collado for the Dominican Republic’s remarkable achievement of welcoming 10 million visitors in 2023. This accomplishment, as described by Pololikashvili, is a significant milestone for Dominican tourism.

In a post on his X account (formerly Twitter), Pololikashvili acknowledged the Dominican Republic’s leadership in global tourism under the guidance of President Abinader and Minister Collado. He commended the country’s success in reaching this impressive visitor count, which sets a new benchmark for Dominican tourism and is a point of pride for the nation.

Pololikashvili has consistently recognized the Dominican Republic’s tourism leadership on various global stages. His appreciation extends to the effective management and innovative strategies implemented during Minister Collado’s administration. This recognition underscores the country’s resilience and adaptability in the face of challenges, further highlighting its status as a leading tourism destination.

At an event in the historic Colonial City of Santo Domingo, Pololikashvili declared the Dominican Republic as the first country globally to achieve a full recovery in tourism post-pandemic. His remarks were echoed during the 118th meeting of the UNWTO executive committee held in May this year in the country, where he lauded the Dominican Republic’s exemplary performance in the tourism sector.

The Secretary General’s praise for Minister Collado and his team, coupled with the successful hosting of the executive council meeting, reflects the Dominican Republic’s strategic and effective approach to tourism development and promotion. This international acclaim from the UNWTO adds to the Dominican Republic’s growing reputation as a dynamic and attractive tourist destination on the world stage.

HAPPY HOLIDAYS 2023

FROM ALL OF US AT LOE GROUP, WISHING YOU A VERY HAPPY HOLIDAY AND PROSPEROUS NEW YEAR.

Dominican Republic and EuroChamber strengthen economic ties with new agreement

Santo Domingo.- The Ministry of Industry, Commerce and MSMEs (MICM) of the Dominican Republic and the EuroChamber of Commerce have signed a Memorandum of Understanding, a significant move to enhance investment, knowledge exchange, and commercial ties between the Dominican Republic and the European Union’s private sector.

The agreement, signed by MICM head Víctor Bisonó and EuroChamber President Jean Marco Pou, aims to bolster bilateral economic relations. Bisonó emphasized the strategic importance of the European market for Dominican products, citing the $4.8 billion trade exchange in 2022, with Dominican exports at $1.1 billion and imports at $3.7 billion. Key exports include cocoa, bananas, rum, cigarettes, and medical instruments.

The Dominican Republic, noted by Bisonó as the Caribbean’s leading destination for European foreign direct investment, stands out for its political and economic stability, dynamism, and international presence. This agreement represents an opportunity to identify and overcome trade barriers, thereby streamlining exchange processes.

Pou highlighted the fundamental nature of this alliance, underscoring the robust and growing export-import relationship between the regions. The agreement is viewed as a milestone in further developing these commercial ties.

The partnership between the MICM and the EuroChamber aims to promote bilateral economic relations, supported by various initiatives, actions, and projects. It is expected to facilitate the marketing of goods and services and identify business opportunities, particularly within the framework of the Economic Partnership Agreement between CARIFORO and the European Union.

The signing was witnessed by key figures from both sides, including EU Ambassador Katja Afheld and Luis Aranque, head of the Commercial Section of the EU Delegation in the Dominican Republic. This collaboration marks a significant step towards strengthening the Dominican Republic’s position in the global economic landscape.